NAFTA 2.0 and Canada’s Prescription Drug Costs
The North American Free Trade Agreement (NAFTA) is a free trade agreement between the Canada, the United States and Mexico that is currently being renegotiated.
As part of the current negotiations, the United States has tabled proposals that would lengthen periods of market exclusivity for certain brand-name drugs in Canada. If Canada were to adopt these proposals, every single Canadian would be negatively impacted by the billions of dollars in additional prescription drug costs created through delayed access to cost-savings generic and biosimilar medicines. Businesses that sponsor employee drug benefit programs, provincial and federal drug plans, and Canadians who pay for drugs out of pocket and those who make co-payments for the medicines would all be forced to shoulder the burden of the high cost of delayed competition from generic and biosimilar medicines.
The Canadian Generic Pharmaceutical Association (CGPA) is calling on the Government of Canada to hold firm against these US demands and protect Canada’s health-care system.